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Future Plans
The most important high-impact elements of the company’s 2008 drilling programme is the 1,000 BOEPD estimate from their Hidalgo Frio, Loma Field and OSR Halliday Field projects in Texas and the Gray Waterflood prospect in Louisiana. The Fayetteville Shale play is also expected to contribute to production when activity is proposed by the project operator.
Activa are primarily focused on expanding their operations base, finalizing the technical review of several key projects and focusing on low risk exploitation opportunities. As a result, in 2008 Activa will be able to increase production volumes from these projects. In addition, Activa’s higher risk/high return exploration opportunities will play an increasingly important role in their 2008 campaign, which is expected to fuel significant growth for 2009 and beyond. Based on current production alone, Activa are looking to generate USD 7 million in production revenues in 2008. As soon as the company realise their aim of 1,000 BOED Activa will be able to generate annualised revenues exceeding USD 20 million. This assumes further successful execution of drilling programs as well as market prices remaining at 2007 levels with oil above USD 65 per BO and natural gas above USD 6 per MCF.